A Bermuda Monetary Authority representative told a jury of concerns expressed over the Emerald Financial Group.The group’s owners, David and Antoinette Bolden, are on trial accused of stealing around $290,000 from a separate company, Emerald Capital International [ECI] which was funded by shareholders and part-owned by two Canadian businessmen.According to the Canadian partners, John Wright and Jason Bagg, the couple siphoned around $290,000 out of ECI via unauthorised transactions.Prosecutor Susan Mulligan alleged during her opening speech on May 9 that the couple plundered the accounts to pay debts, and live beyond their means.Other stolen cash allegedly covered bank overdrafts and propped up the failing Emerald Financial Group companies in order to retain their Bermuda Monetary Authority [BMA] licences.The Boldens are further accused of money laundering and misleading the BMA.Yesterday, the final prosecution witness in the case, Graeme Dargie of the BMA said Emerald Financial Group failed to provide adequate accounting records, and they had not been signed off by outside auditors.This led an independent inspector to be called in in July 2008, resulting in the conclusion there was “likely to be a liquidity deficit,” according to Mr Dargie.The BMA mooted the idea that effective December 31 2008, Emerald would have to cease offering investment advisory services and surrender its BMA licence.However, Mr Dargie said the proposal was withdrawn after the BMA took further advice on the issue.The Boldens deny all the charges they face. The case has now been adjourned for legal arguments, and is set to resume tomorrow.